Sogaz sees Russian insurance market growing 3% in 2016

MOSCOW, Jun 2 (PRIME) -- Russian insurer Sogaz expects the country’s insurance market to grow around 3% in 2016, CEO Anton Ustinov told PRIME on Thursday.

“In 2016, the market will most likely demonstrate almost the same dynamics as in 2015, when all-Russian insurance collections grew by only 3%,” he said.

According to the central bank, the Russian insurance market grew 3.3% to 1 trillion rubles in 2015. In January–March, the combined volume of insurance premiums increased 12.8% on the year to over 300 billion rubles.

(66.6156 rubles – U.S. $1)

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